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Estate Agents 19


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On my way from Lordship Lane Sation to East Dulwich Station I counted 19 estates agents (excluding Foxtons).


Into the early 1970s I seem to remember there were three estates agents only.


Why this substantial increase? Is it an index of the dysfunctionality of the East Dulwich community? Are there now so many transients?

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Don't trust wikipedia. Trains in 1958? The tracks were taken up in 1956.


Lordship Lane has/had three stations which are commonly used as reference points to say where you are.


Railway station

Fire station

Police station


e.g "I was down by the fire station".

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  • 2 months later...

We shall see how the Estate Agents manage to fare. Did anyone see this morning's TImes? Royal Institute of Chartered Surveyors, which had previously predicted at least three percent increase in London's house prices next year (same as Nationwide), has now reviewed its forecast to reveal NO INCREASE AT ALL and a one in ten chance of a 1990's-like crash!


Also the property website, Right-move, has shown a fall in London property prices last month of 2.5%. Crumbs!

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A quick look at Rightmove suggests that perhaps 30 "properties" (god I hate that word) are coming onto the market each week at present in SE22. Foxtons say they are looking for 200 properties for their 0% offer, and they've probably hooked a fair portion of these already. So, you can expect that a large number of Foxton properties will hit the market on launch day. Prepare for a sudden flood of properties on the market, with Foxton signs everywhere. I wonder if this might mean that local prices DROP for a while because of oversupply, the opposite of Foxtons' (supposed) normal impact on local markets. Of all the local agents, I expect Haart to be the ones who will be competing most savagely with Foxtons.
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  • 6 months later...
In the 1970s EAgency was still a basically small business enterprise with one shop indepndents, now it's much more a branded multi-shop business. Most in LL now are chains and they will want 'shops' in desireable areas often even if they run at a loss and certainly they can afford to run them at lower margins. Not sure if any on the Lane are sole agencies...
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Muttley Wrote:

-------------------------------------------------------

> A quick look at Rightmove suggests that perhaps 30

> "properties" (god I hate that word) are coming

> onto the market each week at present in SE22.


That was September 2007. There are now about 70 coming onto the market every week and stock levels building up faster than people are buying.

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"Well - I'm sure there were chains but nothing like nowadays. As I said there are no single-shop EA on LL now I think..."


Some of the chains are franchised, so if they go broke they close, unless they can find someone else to take it on - unlikely at the moment

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  • 4 months later...

MORE AGENTS MEANS HIGHER FEES


Quite simply, the more agents there are, the fewer properties they each get to sell and so they have to offset this will higher fees. At the moment they will all be struggling to make ends meet as they still have the same outgoings as they did a year ago for rent, staffing, advertising, cars etc yet are selling fewer properties.


We only use an estate agent when we move house, for the rest of the time they offer nothing to our community and high street.


How many agents would it take to create some competition in any given area? 3, 4, 5?


The sooner some close the better.

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Mine was a general question about the equilibrium number for estate agents in post-property boom East Dulwich. It was not an attack on estate agents.


I'm also interested in the impact on East Dulwich of void shops (downside) and falling cost of retail rents/lease (upside).

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